#57 Request: better SYMBOL indicator

[Anonymous]

I'm trying to implement the Mansfield's Relative Strenght (MRS), an
indicator whose importance in Stan Weinstein's system is crucial (Stan
Weinstein: Secrets for Profiting in Bull and Bear Markest). This indicator
compares de force of a stock, or of an index, against a reference
index (usually the SP500). So I tried to use the SYMBOL indicator to implement
an indicator that displays the MRS and its 30-period weighted average like this:

---------
refindex := SYMBOL(/home/MYHOMEDIR/.qtstalker/data1/data/Stocks/Yahoo/US/^GSPC)
quot := UTIL(DIV,Close,refindex)
qaver := TALIB(SMA,quot,52)
rnorm := UTIL(DIV,quot,qaver)
rvar := UTIL(SUB,rnorm,1)
rsm := UTIL(MUL,rvar,10)
mm30 := TALIB(WMA,rsm,30)
zero := UTIL(REF,0)
plot (rsm,#55ff7f,RSM,Histogram)
plot (zero,#ffffff, ,Horizontal)
plot (mm30,#ff0000,wma30,Line)
---------

A positive/negative MRS tells that the stock is stronger/weaker than the SP500.
So the MRS of the SP500 relative to itself should be exactly zero. That
shows the first problem with the SYMBOL indicator in qtstalker: instead of a
horizontal line, the MRS is seen in this case as noise around the zero line,
because the SYMBOL indicator is integer valued.

But the worst problem is that while the MRS indicator is to be used
in weekly charts, the SYMBOL indicator provides hardly more than a year of past
data. The computing of the MRS involves a 52-week average, and so only
the very last portion of the MRS indicator can be seen in weekly charts, and
absolutely nothing of its 30-week average.

The only option I have by now to work with the MRS indicator is to use
ProRealTime (TM) in the cloud. The problem in this case is that the offered
version of the MRS indicator is not well suited to design stock screeners.

So the request is:
Please provide an alternative double precision SYMBOL indicator that provides
all closing data available. I think that would be a terrific feature.

Thanks.

[Anonymous]

[Nobody/Anonymous]

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